Govt seizes Tk 66,146cr in assets of 10 businesses, Hasina family

The interim government has so far seized assets worth Tk 66,146 crore allegedly owned by 10 major business groups and members of the family of ousted prime minister Sheikh Hasina.

The groups named are S Alam Group, Beximco Group, Summit Group, Bashundhara Group, Gemcon Group, Orion Group, Nabil Group, Nassa Group, Sikder Group, and Aramit Group.

The disclosure was made at the 30th meeting of the National Coordination Committee on the prevention of money laundering and recovery of laundered funds, held at the Secretariat yesterday. Chaired by Finance Adviser Salehuddin Ahmed, it focused on formulating and implementing guidelines to curb money laundering and terrorism financing.

The finance ministry said authorities have attached and frozen movable and immovable assets worth Tk 55,638 crore within the country and Tk 10,508 crore abroad under 11 priority portfolios.

According to a ministry statement, 104 lawsuits have so far been filed against these entities, with charge sheets submitted in 14. Courts have delivered verdicts in four cases.

In addition, 21 Mutual Legal Assistance Requests (MLARs) have been sent to relevant countries in connection with overseas asset recovery.

The government has formed joint inquiry and investigation teams for all 11 priority portfolios involving money and assets siphoned off abroad, and steps have been taken to seize those assets, the ministry said.

The meeting also decided to amend the Money Laundering Prevention Act, 2012, to make the recovery of laundered money and assets from overseas more effective. Relevant authorities were instructed to expedite the submission of charge sheets, send MLARs promptly and ensure speedy disposal of cases.

Bangladesh is scheduled to undergo the fourth round of Mutual Evaluation by the Asia Pacific Group on Money Laundering (APG) in 2027–28 to assess compliance with international standards on anti-money laundering and counter-terrorist financing.

Treating the evaluation as a top priority, the meeting directed all concerned ministries, divisions and agencies to make necessary preparations.

Senior officials, including the Bangladesh Bank governor, finance secretary, ACC chairman, NBR chairman, BSEC chairman, and representatives from law enforcement agencies and the Bangladesh Financial Intelligence Unit, were present at the meeting.

After the meeting, BB Governor Ahsan H Mansur said the central bank would legally fight the petition filed by S Alam Group owner Mohammad Saiful Alam at the World Bank's arbitration forum, the International Centre for Settlement of Investment Disputes (ICSID).

"We will fight the case. S Alam and his family members have claimed to be Singapore citizens, but we will prove that S Alam is a Bangladeshi citizen," he said.

Regarding the recovery of laundered money, the governor said the process usually takes at least four to five years.

He also said Bangladesh is hopeful about the resolution of a case related to the former land minister Saifuzzaman Chowdhury in London.

"The defendant did not contest the case there, which increases Bangladesh's chances," he pointed out.